Aug 11, 2009

Guild gets peek at Tribune bonus plan

A judge ruled today that the union representing newspaper workers at Tribune Co. will be able to look at the company's proposal to hand out $70 million in bonuses to top managers.

From AP:

The judge agreed to allow the Chicago-based company to keep under seal a compensation consultant's report underlying the bonus plan and said information to be shared by the Tribune will be restricted.

"It's going only to the Guild," Carey ruled, denying the Guild's request to share the information with other unions, including those that joined in its objection to the bonus plan. ...

The company defended the proposed bonuses, saying they are based on specific performance targets and are needed to retain key employees facing significant industry challenges while working toward a successful reorganization. The bonuses, the company said, will help attract top-tier management talent if needed.